United parent UAL boosts cash position to $275 million

NEW YORK (MarketWatch) -- United Airlines parent company UAL Corp.
UAL, +3.34%
said Wednesday it is raising its liquidity to $275 million, through asset sales and financing. The company said the sale of "certain assets" would generate approximately $140 million, $30 million of which was received in the third quarter. It also said it had completed a $125 million aircraft financing agreement, receiving approximately $60 million Tuesday, with the remainder due by mid October. United also intends to substitute certain cash collateral with a letter of credit, generating $10 million in the fourth quarter, it said.

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